This morning in metals news, Wisconsin Gov. Scott Walker signed a bill ending the state’s moratorium on gold and silver mining, Chile approaches a busy year for mine union negotiations, and Chinese steel futures drop.
Going for the Gold in the Badger State
Wisconsin Gov. Scott Walker signed a bill ending the state’s moratorium on gold and silver mining, Wisconsin Public Radio reported.
The moratorium was imposed in 1998, when Walker was a member of the state Assembly.
Union Negotiations on the Horizon in Chile
Chile’s copper mining industry has a busy schedule next year, with 32 union contracts on the docket, Bloomberg reported.
Chile, a dominant force in the copper industry, will negotiate the contracts, which represent approximately 75% of the country’s copper output, according to the report.
China Steel Futures Drop
Chinese steel futures took a dip Tuesday as a result of concerns regarding demand in the country, the world’s top steel consumer, according to Reuters.
According to the report, upward price movement driven by supply constriction is expected to be counterbalanced by a drop in demand as winter weather affects construction projects.